i mean, it has a primary deficit. so the problem is, if you don't save enough, if you're saving enough, you can be like japan. you can fund yourself. but if you don't save enough, you're using all the dry powder. you're using your banks and the social security fund to buy your own debt. this can only last for a certain amount of time. >> there is an interesting question, though, as to whether -- you mentioned this whole cycle and which this whole loop. some of what we've seen for european debt crisis is this vulcanzation to some extent. is it better or worse than spain's problems are less exposure or are sort of in this -- in this internal cycle as opposed to there being more exposure for investors outside the country. >> it's better for europe as a whole and in 2013, we are positive on the european market, on credit markets as a whole. we don't think the same domino effect is arising from, for example, economic, political issues in spain or political issues with alternative action. but for spain itself, it puts the c